Digital West has acquired San Luis Obispo, California-based Norcast Telecom Networks, a local data and telecom provider. Farragut Capital Partners made an undisclosed investment in the transaction. Auctus Group Inc advised Digital West on the deal.
CHICAGO and SAN LUIS OBISPO, Calif., March 22, 2017 /PRNewswire/ — Auctus Group, Inc.(www.auctusgroupinc.com/services), a Chicago based Investment Banking Firm is pleased to announce its role as the exclusive advisor to Digital West in its acquisition of Norcast Telecom with a mezzanine debt and minority equity investment provided by Farragut Capital Partners. The transaction was announced by Reginald McGaugh, Senior Managing Director & Partner of Auctus Group, Inc. “It was truly a pleasure working with the management teams of both companies and meeting everyone’s expectation to complete this transaction,” said Reginald McGaugh.
Digital West Networks Inc. has acquired Norcast Telecom Networks to create what they’re calling the Central Coast’s single largest business infrastructure provider — with about 60 employees and more than 2,500 customers ranging from small businesses to Fortune 500 companies. The firms expect to be fully integrated within six months, according to Tim Williams, who will be CEO of the new company. “We were extremely impressed with the team at Auctus Group, Inc. and we look forward to their support for our future acquisitions,” said Williams.
The two companies have worked closely together for more than 10 years — with many of the same customers — and have talked on and off about merging during that time, according to Norcast President Jeff Buckingham. Both companies have about 30 employees and share common values, including a commitment to innovation, fostering win-win relationships and extensive community involvement, he said, adding that the acquisition is a true collaborative effort. Buckingham will become the combined company’s President and Chief Client Officer. Michael Boyer will remain as Chief Operating Officer and Sandy Davis will remain Chief Financial Officer.
ABOUT DIGITAL WEST
Digital West (www.digitalwest.com) was founded in 1999 by Tim Williams, who continues to lead the company today. A decade later, Digital West has expanded across North America and overseas, offering colocation, managing Wide Area Networks, delivering fiber connectivity and providing cloud services.
ABOUT NORCAST TELECOM
Norcast Telecom Networks (www.norcast.net) is the Central Coast’s Premier Local Data and Telecom provider. We deliver exceptional customer service and customized solutions for all your Business Phone and Internet needs. Our clients benefit from ONE company caring for all aspects of their voice, data, equipment, and service needs. No confusion. No hassle. That’s our promise.
ABOUT FARRAGUT CAPITAL PARTNERS
Farragut Capital Partners (www.farragutcapitalpartners.com) is a leading source of mezzanine and private equity capital for entrepreneurs, business owners, and private equity firms seeking to facilitate growth, acquisitions, recapitalizations, management buy-outs, generational transfers, and other ownership transitions.
ABOUT AUCTUS GROUP
Auctus Group, Inc. (www.auctusgroupinc.com) is a lower middle market focused investment banking firm specializing in merger & acquisition advisory, institutional private placements of debt and equity, financial restructuring, valuation, and strategic consulting.